Clifton Pemble Sells 19,914 Shares of Garmin (NYSE:GRMN) Stock

Garmin Ltd. (NYSE:GRMN) CEO Clifton Pemble sold 19,914 shares of the stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $251.58, for a total value of $5,009,964.12. Following the sale, the chief executive officer owned 124,075 shares of the company’s stock, valued at $31,214,788.50. This represents a 13.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Garmin Price Performance

Shares of Garmin stock opened at $252.42 on Friday. Garmin Ltd. has a one year low of $169.26 and a one year high of $261.69. The business’s 50 day simple moving average is $213.48 and its two-hundred day simple moving average is $221.29. The stock has a market capitalization of $48.59 billion, a P/E ratio of 29.35, a price-to-earnings-growth ratio of 3.03 and a beta of 1.00.

Garmin (NYSE:GRMN) last issued its earnings results on Wednesday, February 18th. The scientific and technical instruments company reported $2.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.39 by $0.40. Garmin had a net margin of 22.96% and a return on equity of 19.64%. The firm had revenue of $2.12 billion for the quarter, compared to analysts’ expectations of $2.01 billion. During the same quarter last year, the business earned $2.41 earnings per share. The business’s revenue was up 16.6% on a year-over-year basis. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. Sell-side analysts expect that Garmin Ltd. will post 7.8 earnings per share for the current fiscal year.

Garmin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 26th. Stockholders of record on Friday, March 12th will be paid a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, March 12th. Garmin’s dividend payout ratio is 41.86%.

Institutional Trading of Garmin

Hedge funds have recently modified their holdings of the business. Mather Group LLC. lifted its position in Garmin by 1.2% during the 3rd quarter. Mather Group LLC. now owns 3,749 shares of the scientific and technical instruments company’s stock valued at $923,000 after acquiring an additional 44 shares during the period. Smith Moore & CO. increased its stake in shares of Garmin by 4.3% during the second quarter. Smith Moore & CO. now owns 1,151 shares of the scientific and technical instruments company’s stock valued at $240,000 after purchasing an additional 47 shares in the last quarter. BSW Wealth Partners lifted its holdings in shares of Garmin by 2.9% during the third quarter. BSW Wealth Partners now owns 1,724 shares of the scientific and technical instruments company’s stock valued at $425,000 after purchasing an additional 48 shares during the last quarter. Daymark Wealth Partners LLC boosted its position in shares of Garmin by 0.7% in the 4th quarter. Daymark Wealth Partners LLC now owns 6,813 shares of the scientific and technical instruments company’s stock worth $1,382,000 after purchasing an additional 48 shares in the last quarter. Finally, SYM FINANCIAL Corp grew its stake in shares of Garmin by 4.0% in the 3rd quarter. SYM FINANCIAL Corp now owns 1,294 shares of the scientific and technical instruments company’s stock worth $319,000 after buying an additional 50 shares during the last quarter. Institutional investors own 81.60% of the company’s stock.

Key Stories Impacting Garmin

Here are the key news stories impacting Garmin this week:

• Positive Sentiment: Rare institutional inflows continue to target Garmin, a long-term bullish technical/fund flow signal that some investors view as a structural tailwind. This can attract new demand and partly offset selling pressure. Read More.
• Neutral Sentiment: Despite the sales, insiders still retain sizable holdings (for example, CEO Clifton Pemble owns 124,075 shares after his sale), which can temper concerns that leadership is abandoning the stock. Read More.
• Negative Sentiment: Large, coordinated insider selling likely pressured the share price: CEO Clifton Pemble sold 19,914 shares (~$5.01M), COO Patrick Desbois sold 6,694 shares (~$1.68M), EVP Matthew Munn sold 5,275 shares (~$1.32M), CFO Douglas Boessen sold 3,487 shares (~$877.5K), and VP Susan Lyman sold 3,805 shares (~$956K). These trades represent double-digit percentage reductions for several executives and are being interpreted by some investors as a negative signal or as near-term supply hitting the market. SEC filings for each sale: Read More., Read More., Read More., Read More., Read More.

Analyst Upgrades and Downgrades

GRMN has been the subject of several research analyst reports. Longbow Research upgraded Garmin from a “neutral” rating to a “buy” rating and set a $250.00 price objective for the company in a report on Wednesday, December 3rd. Zacks Research raised Garmin from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 23rd. Barclays set a $240.00 price target on shares of Garmin in a report on Thursday, February 19th. JPMorgan Chase & Co. raised their target price on shares of Garmin from $250.00 to $265.00 and gave the stock a “neutral” rating in a research report on Thursday, February 19th. Finally, Tigress Financial lifted their target price on shares of Garmin from $310.00 to $320.00 and gave the company a “strong-buy” rating in a research note on Friday, February 20th. Two analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Garmin currently has an average rating of “Moderate Buy” and a consensus price target of $254.00.

Garmin Company Profile

Garmin Ltd. is a technology company best known for designing and manufacturing navigation, communication and information devices that leverage global positioning system (GPS) technology. The company serves a diverse set of markets including consumer fitness and wearables, automotive navigation, aviation avionics, marine electronics and outdoor handheld devices. Garmin’s products combine hardware, mapping and software services to deliver location-aware solutions for personal, recreational and professional uses.

Garmin’s product lineup includes wearable fitness and multisport watches (Forerunner, Fenix, Venu), cycling computers and accessories (Edge, Varia), handheld and handheld-mounted GPS devices for outdoor activities, automotive and portable navigation units, marine chartplotters and fishfinders, and certified avionics for fixed- and rotary-wing aircraft.